08 Feb , 2022 By : Kanchan Joshi
Wind energy service provider Inox Wind on Tuesday informed that the company's material subsidiary Inox Green Energy (IGESL) has filed a draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) on 7th February, 2022 for an initial public offering (IPO).
The proposed offer consists of a fresh issue of equity shares aggregating upto Rs370 crore and an offer for sale (OFS) of equity shares aggregating upto Rs370 crore by the company.
In December, the company had informed that the board of the Company’s material subsidiary, had approved fund raising by way of an initial public offer of its Equity Shares comprising of fresh issue of equity shares and/or an offer for sale of Equity Shares by certain existing and eligible shareholders of IGESL.
On January 18, 2022, as an existing and eligible shareholder of IGESL, the company had accorded its approval to participate in the proposed Offer through an offer for sale of equity shares, Inox Wind said in an exchange filing today.
Inox Wind shares have given multibagger return of over 107% in a year's period, whereas, the scrip has surged 19% in 2022 (year-to-date or YTD) so far. Inox Wind is a fully integrated player in the wind energy market with state-of-the-art manufacturing plants near Ahmedabad (Gujarat) for blades & tubular towers and at Una (Himachal Pradesh) for hubs & nacelles.
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